All Forum Posts by: Jeet Sangha

@Joe Homs thank you I will contact her.

@Jeet Sangha No, it is several insurance companies that are not providing insurance in the whole state of CA. I heard it was because the state is not allowing insurance companies to raise prices so they are stopping new policies in the whole state.

Hello Bigger Pockets community!

My name is Michael, and I'm excited to join this fantastic forum to learn and connect with like-minded individuals. I'm currently based in San Jose, CA, and have a strong interest in multi-family properties as a means to achieve financial and locational freedom.

A little about me: I don't own any rental properties yet and am in the process of paying down $25k in debt from a failed business ($15k at 10% interest and $10k at 0% interest). I've been able to save about $1,500 per month while making minimum payments on those debts. My goal is to gain knowledge and form valuable relationships that can help us all find great deals.

I'm looking for advice from experienced investors, particularly those familiar with the California market. I'm feeling a bit discouraged by the high prices of multi-family properties in California and am considering the possibility of investing out of state. However, I find the idea of being able to visit my property without taking a flight quite appealing.

I'd appreciate any insights, tips, or guidance you all might have. Should I focus on out-of-state investing, or is there a way to make things work here in San Jose? I'm eager to learn from your experiences and wisdom.

Thanks in advance for your help, and I look forward to getting to know you all and contributing to the community!

Best regards,

Michael L

Does anyone have a recommendation for an insurance company that will write a policy for a CA property?

I'm buying a duplex to house hack, but I've contacted a few companies and all of them said that they are not writing policies in California.

Thanks everyone.  I just talked to a lawyer and he was going to charge me $8500!  The reason I am looking for asset protection is because od what happened to a fellow landlord I know. He had a tenant who was working buf who was a little mentally retarded.  One day he was walking around the property with a gun and was shooting into the air.  One of the other tenants came out and told him, you can't do that!  He said I'm sorry and then later did it again!  Police came to the property and arrested him!  What if he hit someone!  Then the landlord would have gotten sued!  What would you suggest in this scenario? 

I got introduced to BP about a month back, and have been watching the YT channel and various BP podcasts, especially the BP rookie podcast. Wanted to take the plunge in the RE market a few years back but then covid happened and a lot of things changed (economy, market as well as personally). So, I'm trying to do it now, better late than never, right? Looking forward to learning a lot in this community. Please feel free to let me know of any specific rules and semantics I should be aware of. 

 Hello Theresa, I tried talking to the county but they say they cannot get involved in this matter, which boggles my mind...

If we pursue the legal route, it's going to get costly, and we would likely ask for legal compensation, but I'm not sure if that is possible.